The Uganda shilling lost ground on Wednesday weighed down by robust demand for hard currency from local market participants and offshore investors liquidating part of their government bond holdings ahead of tomorrow’s redemption and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda’s Wednesday…
Pride Bank Limited has secured a prestigious ISO/IEC 27001:2022 certification for its Information Security Management System (ISMS). The bank officially received the certification during a press conference held on Tuesday in Kampala. Officials say the certification shows the strong commitment to international best practices in data protection and cybersecurity. The ISO/IEC 27001:2022 is the globally…
Finance Minister Henry Musasizi has told the Uganda Development Bank (UDB) to put its financing muscle behind the country’s anchor growth sectors, saying this is what will get Uganda to its target of a USD 500 billion economy by 2040. Musasizi was speaking during a meeting with UDB’s Board of Directors and management at the…
Mutundwe Data Centre When the power failed at MTN Uganda’s Mutundwe switch and data centre over the weekend, it did not just knock out one part of the network. It took down voice calls, data, mobile money and mobile learning services for customers across the country. Mutundwe is one of only two parent sites that…
Equity Group Managing Director and CEO Dr. James Mwangi (centre) receives a symbolic plaque on his appointment as the Continental Digital Public Infrastructure (DPI) Champion from AfricaNenda. Courtesy photo A new partnership between Equity Group, AfricaNenda Foundation and the Gates Foundation is set to accelerate the development of Digital Public Infrastructure (DPI) across Africa in…
After more than 16 years as Managing Director of Centenary Bank, Fabian Kasi is leaving behind a stronger institution than the one he inherited. During his tenure, the bank expanded its footprint, grew its financial performance, embraced digital banking, and strengthened financial inclusion across Uganda. As he hands over leadership to incoming Managing Director Godfrey…
TotalEnergies Marketing Uganda has recognised outstanding mechanics across its nationwide service station network through its inaugural Top Mechanic Awards, an initiative aimed at promoting service excellence and enhancing customer satisfaction. The awards ceremony, held on June 19, 2026, was organized under the company’s Premium Quality Service Project, which seeks to improve service delivery standards by…
AF Mpanga Advocates has announced the admission of Derrick Kuteesa to the firm’s partnership, marking a significant milestone in his legal career and reinforcing the firm’s commitment to developing talent from within. Kuteesa joined AF Mpanga in 2016 after completing the Bar Course and has since established himself as a leading practitioner in Banking and…
The Uganda shilling was largely unchanged against the dollar in today’s session, holding at 3,645/3,655, according to the Monday’s Absa Bank Market Report. Trading was characterized by subdued dollar demand, with most corporate players remaining on the sidelines as market activity continues to recover in the early days of the new fiscal year. Inflows from…
By Prof. Augustus Nuwagaba, Deputy Governor Bank of Uganda Conventional economics dictates that economic growth must generate employment. Why? Because jobless growth is neither desirable nor sustainable. It is gainful employment that creates robust aggregate demand, which is a major driver of sustained economic growth. Furthermore, it is an obvious truth that robust wealth creation…
